Jakarta, CNBC Indonesia – Mandiri Capital Indonesia has opened its voice regarding the problems that have been entangling Investree recently. MCI is known to be one of the investors in this peer-to-peer lending fintech company.
CEO of Mandiri Capital Indonesia, Ronald Simorangkir, explained that his party was aware of this matter. This was long before the news circulated in public some time ago.
“From the Mandiri side, alerts are already working, whether we are P2P channeling or referral in nature. It's not just risk management that we are empowering. But it has become risk management, not just P2P but in terms of quality it has shown an early warning system that we have been informed about,” said Ronald met in Jakarta, Wednesday (17/1/2024).
For the action plan, he said that his party would monitor it together with other investors. The shareholders also plan to discuss this matter.
“We will monitor the action plan together with other investors. It will be announced together with the startup, if any,” he said.
Apart from that, we also look at the existing processes. He said he didn't want to give any prejudice as to which news was true or false.
So far Mandiri Capital has four P2 lending companies: in its portfolio. Ronald confirmed that he would monitor all these companies. Apart from Investree, P2P lending companies that receive capital from Mandiri Capital are Crowde, KoinWorks, and Amartha.
“The quality of the portfolio determines the valuation. So we continue to monitor the P2P that we have now. But we are looking at the process for one name, because we don't want to be biased about which news is right or wrong,” explained Ronald.
For your information, Investree has problems stemming from bad credit. The Financial Services Authority also imposed a written warning on the P2P loan.
TWP90, the 90-day default rate, on Thursday (11/1/2024), rose to 12.58%. “Currently, OJK has also imposed administrative sanctions on Investree for violating applicable regulations and OJK continues to monitor compliance,” said Agusman in a written answer to the OJK RDKB.
OJK will also impose administrative sanctions if other violations are found. Starting from written warnings, fines, restrictions on business activities, and even revocation of business permits.
A number of investors or lenders reportedly sued the investree at the South Jakarta District Court. The lawsuit was registered with case number 43/Pdt.G/2024/PN JKT.SEL which was registered on January 11 2024. 16 investors sued Investree for breach of contract.
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